Today's News

BankAmerica announced a broad reorganization of its overseas operations. Page 6

Hugh McColl, CEO of BankAmerica, continued his good-will tour of California, stopping in Los Angeles to offer another civic donation. Page 6

MORTGAGES

Delta Funding of New York said it would meet analysts' earnings expectations for the fourth quarter and that its cash flow was positive in the period. Page 8

COMMUNITY

Credit unions won a hard-fought victory last summer when Congress made it easier to expand membership. But for two Southern California institutions that want thrift charters, the new law is not enough. Page 10

DIGITAL FRONTIERS

ON-LINE BANKING: Having staked out their own lucrative corner of the virtual financial services world, on-line brokerages are taking aim at banks. Page 12

WASHINGTON

By April, new guidelines are expected from the OCC for national banks entering the digital certification business. Clifford A. Wilke, the OCC's director of bank technology, said the agency wants banks to take advantage of developing technologies without jeopardizing their financial health. Page 2